Request for Comment – Proposed Amendments to Facilitate the Investment Industry’s Move to T+1 Settlement – New Self-Regulatory Organization of Canada (New SRO)

Market Regulation Document Type
New SRO rule review

New SRO is publishing for public comment proposed amendments to New SRO’s Universal Market Integrity Rules (UMIR Rules) and Investment Dealer and Partially Consolidated Rules (IDPC Rules) (collectively, the Proposed Amendments) regarding the investment industry’s move from a trade date plus two business days (T+2) settlement cycle to a trade date plus one business day (T+1) settlement cycle.

The primary objective of the Proposed Amendments is to ensure that New SRO’s requirements support the investment industry’s move to T+1 settlement at the same time as the U.S., which is scheduled for May 28, 2024. The move to a T+1 settlement cycle will align Canada with the U.S. capital markets.

A copy of the New SRO Notice, including the amended documents, is also published on our website at The comment period ends on June 19, 2023.